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Microcap & Penny Stocks : GBFE - GOLDEN BOOKS FAMILY ENTMT INC
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To: sks1 who wrote (428)6/15/1999 4:31:00 PM
From: Sethpop  Read Replies (1) of 476
 
Unfortunately you are incorrect...The "old common stock" will be cancelled and as noted in the prior post will become "wallpaper" and you will only get one warrant to buy one share for $46.05 for three years for each 318 shares you currently own....This is with the appraised value of the new stock at $10-$11/share...So the stock would have to go from 10 to $46 in three years for the warrant to be worth anything....AND the Black-Scholes value of that warrant is $.38-$.58 cents. Thus today's 318 shares will be exchanged for one piece of paper with a today's worth of $.38-$.58..Thus this works out to TWO TENTHS of a penny for each current share... The only confusion lies with the poor suckers who might have been actually buying the stock for purposes other than covering a short position!!
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